Discussion:Form 8832 and conversion from LLC to C Corporation- is a final return for the LLC required?

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Advanced Tax Questions --> Form 8832 and conversion from LLC to C Corporation- is a final return for the LLC required?


Discussion Forum Index --> Tax Questions --> Form 8832 and conversion from LLC to C Corporation- is a final return for the LLC required?

StefCPA (talk|edits) said:

24 January 2012
Hi,

We are making an election for an LLC client of mine to be taxed as a C Corporation for the 2011. Is a final return required for the LLC? We are making the election effective January 1st, 2011 and so there will really be no activities on the LLC return (if a final return is required, we will file a zero activity return on the LLC, and check the final box).

Thank you

Steve

Ztom (talk|edits) said:

24 January 2012
When did you make the election? Where did you make the election?

DouglasHolbrook (talk|edits) said:

25 January 2012
And is it a SMLLC or MMLLC?

StefCPA (talk|edits) said:

25 January 2012
we are filing the election now but the effective date would be January 1st, 2011 using rev proc 2009-41.

is a final LLC return required to be filed?

Ckenefick (talk|edits) said:

25 January 2012
Is says it right there in the form instructions when a 1065 is required. But note, even if one is not required, the IRS may very well ask for one at a later date, so you'll have to write a letter. If I have filed a 1065 for a client in the past, I see to it that one is actually filed that is marked "final."

Ztom (talk|edits) said:

25 January 2012
Since the election dates back to 1-1-10 the LLC would actually be a Sub S, therefore there would be no income or expenses to report. It does seem like a good idea to file the 1065 with zeros and mark the box final tax form.

Ztom (talk|edits) said:

25 January 2012
Sorry I meant 2011. I like the idea and I am also in the process of filing the election for a LLC I have, they gross over 600k a year and net under 100k. The LLC is doing business in Ca and they want $3300 even with a net loss.

Ztom (talk|edits) said:

25 January 2012
Better yet file an amended 2010 1065 and show final.

To join in on this discussion, you must first log in.
Personal tools